Arrowstreet Capital Limited Partnership Sells 199,698 Shares of Stryker Co. (NYSE:SYK)

Arrowstreet Capital Limited Partnership lessened its position in Stryker Co. (NYSE:SYK) by 67.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 96,091 shares of the medical technology company’s stock after selling 199,698 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Stryker were worth $34,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter worth about $25,000. Dunhill Financial LLC boosted its stake in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Rakuten Securities Inc. increased its holdings in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Stryker in the 4th quarter valued at $30,000. Finally, BankPlus Trust Department bought a new position in Stryker during the fourth quarter worth $33,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. Argus set a $450.00 price objective on Stryker in a report on Monday, February 3rd. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research report on Tuesday, March 4th. Barclays upped their target price on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Stifel Nicolaus boosted their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Citigroup reaffirmed a “buy” rating and issued a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $421.90.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

Stryker Stock Up 1.2 %

Shares of SYK opened at $377.82 on Thursday. The stock’s 50-day moving average price is $383.16 and its two-hundred day moving average price is $374.45. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $144.21 billion, a PE ratio of 48.69, a PEG ratio of 2.93 and a beta of 0.95. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the company earned $3.46 EPS. On average, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.